News blog
Intelligent Environments
- BY: Andrew Hore |
- POSTED: 26/09/2007 |
Intelligent Environments increased its revenues and profits in the first half.
Turnover jumped from £1.79m to £3.07m in the six months to June 2007. Transactional revenues have been much slower to take off than hoped and they will still be less than 5% of this year’s turnover. As the newer contracts with Argos and Thomas Cook, which were signed up through Barclaycard, start to build up the transactional revenues will increase.
Pre-tax profits increased from £153,000 to £204,000. Past losses mean that the company won’t have to pay tax for some time.
The business generated more cash from operations than its stated profit helped by a fall in debtors. There is cash of £1.17m in the balance sheet.
One worry is the capital spending of financial companies and how the current state of the financial markets will affect it. They tend to make capital spending decisions for next year in November. Short-term this won’t have much of an affect on IE, though. The new business it has already won underpins this year’s, and next year’s, forecasts.
The West Bromwich Building Society project should be live by the end of 2007. The link-up with Moneyfacts.co.uk will make a contribution to 2008 as will new business won through its partnership with Royal Bank of Scotland in Continental Europe. IE gets revenues when an account is applied for and it doesn’t matter if the application is successful.
© 2024 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
- Browse by issue
- All issues
- Popular tags
- All tags
- AIM Micro feeds
Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds
|